Berkeley Lights, Inc. (BLI)

Investigation 

Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Berkeley Lights, Inc. ("Berkeley Lights” or the "Company") (NASDAQ: BLI). The investigation concerns whether Berkeley Lights and certain of its officers and/or directors have violated federal securities laws.

 

On or around July 17, 2020, Berkeley Lights conducted its initial public offering (“IPO”), selling 8.1 million shares priced at $22.00 per share.  Then, on September 15, 2021, the analyst Scorpion Capital (“Scorpion”) published a report on Berkeley Lights entitled “Fleecing Customers And IPO Bagholders With A $2 Million Black Box That’s A Clunker.”  The Scorpion report challenged the Company’s representations regarding its only product, the Beacon, a $2 million laboratory instrument.  Specifically, Scorpion alleged that discussions with Berkeley Lights’ key customers and employees revealed that the Beacon is a flop, citing significant error rates, machine breakdowns, and that key product claims and capabilities are false.  Scorpion reported that its investigations turned up multiple customers who claimed that they were “tricked” into buying a $2 million defective product and concluded that “[t]he reality is so far from BLI’s grandiose hype that we believe its product claims and practices may constitute outright fraud.”  On this news, Berkeley Lights’ stock price fell $6.14 per share, or 18.7%, to close at $26.62 per share on September 15, 2021.

 

If you are aware of any facts relating to this investigation, or purchased Berkeley Lights shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.